Coinbase to Suspend Trading of FLOKI, TURBO, and GIGA in New York on April 14, 2025
Overview
On March 12, 2025, Coinbase announced that it will suspend trading for FLOKI (FLOKI), Turbo (TURBO), and Gigachad (GIGA) in New York only starting April 14, 2025, at approximately 2 PM ET. The exchange cited its regular asset monitoring process as the reason for the decision, stating that these tokens no longer meet its listing standards in New York.
We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for FLOKI (FLOKI), Turbo (TURBO), and Gigachad (GIGA) in New York only on April 14, 2025, on or around 2 PM ET.
— Coinbase Assets 🛡️ (@CoinbaseAssets) March 12, 2025
Coinbase clarified that this suspension is limited to New York residents, and trading for these assets will remain available in other jurisdictions where compliance standards allow.
Reasons for the Suspension
Coinbase has not provided specific reasons for delisting these assets in New York. However, possible factors include:
- Regulatory scrutiny: New York has some of the strictest crypto regulations in the U.S., requiring compliance with the BitLicense framework. Assets that fail to meet evolving regulatory standards may face delisting.
- Liquidity concerns: If an asset experiences low trading volume or liquidity issues, exchanges may suspend or remove it from trading to protect users.
- Security & compliance: Coinbase routinely assesses market integrity, security risks, and compliance for listed assets. If FLOKI, TURBO, or GIGA are deemed to pose risks related to fraud, manipulation, or security, they may no longer qualify for trading in New York.
Impact on Investors
For New York-based traders, the suspension means that they will no longer be able to buy, sell, or trade FLOKI, TURBO, or GIGA on Coinbase after April 14, 2025. However:
- Users will still have access to their holdings: Investors can hold these assets in their Coinbase wallets, but will need to transfer them to other platforms if they wish to trade.
- Trading outside New York remains unaffected: FLOKI, TURBO, and GIGA will continue to be tradable on Coinbase in other jurisdictions where regulatory conditions permit.
Market Reactions & Future Outlook
Following Coinbase’s announcement, the prices of FLOKI, TURBO, and GIGA saw increased volatility, as investors speculated on the potential regulatory concerns behind the decision.
New York’s BitLicense regulations have historically led to asset delistings and trading restrictions, making it one of the most challenging jurisdictions for crypto projects. As the regulatory environment evolves, further asset suspensions could follow, affecting more tokens in the future.
For now, traders in New York should prepare to manage their holdings accordingly before the April 14 deadline.
